Cactus (NYSE:WHD) CEO Scott Bender Sells 13,300 Shares of Stock

Cactus, Inc. (NYSE:WHD) CEO Scott Bender sold 13,300 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $55.07, for a total transaction of $732,431.00. Following the sale, the chief executive officer directly owned 128,219 shares of the company’s stock, valued at $7,061,020.33. The trade was a 9.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cactus Trading Down 1.6%

Shares of WHD stock traded down $0.83 during mid-day trading on Wednesday, reaching $52.31. The stock had a trading volume of 730,859 shares, compared to its average volume of 910,627. The stock’s 50-day moving average price is $55.66 and its two-hundred day moving average price is $54.15. Cactus, Inc. has a 52-week low of $33.20 and a 52-week high of $64.30. The firm has a market capitalization of $4.19 billion, a PE ratio of 49.35, a price-to-earnings-growth ratio of 2.03 and a beta of 1.38. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.29. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The company had revenue of $449.53 million during the quarter, compared to analyst estimates of $400.82 million. Equities analysts expect that Cactus, Inc. will post 2.92 earnings per share for the current fiscal year.

Cactus Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 1st were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. Cactus’s payout ratio is 52.83%.

Institutional Investors Weigh In On Cactus

Several hedge funds have recently bought and sold shares of WHD. GAMMA Investing LLC grew its holdings in Cactus by 29.5% in the second quarter. GAMMA Investing LLC now owns 2,532 shares of the company’s stock worth $130,000 after purchasing an additional 577 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of Cactus in the 2nd quarter worth approximately $58,000. CoreCap Advisors LLC bought a new stake in shares of Cactus in the 2nd quarter worth approximately $321,000. Pacer Advisors Inc. grew its stake in shares of Cactus by 128.0% in the 1st quarter. Pacer Advisors Inc. now owns 7,142 shares of the company’s stock worth $338,000 after buying an additional 4,010 shares during the last quarter. Finally, Carlson Capital L.P. purchased a new stake in shares of Cactus in the 1st quarter worth approximately $1,611,000. Institutional investors own 85.11% of the company’s stock.

Analyst Ratings Changes

WHD has been the subject of several research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 target price (up from $66.00) on shares of Cactus in a research report on Tuesday, June 16th. Piper Sandler lifted their price objective on Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Citigroup upped their target price on Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Barclays increased their target price on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Weiss Ratings raised Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.60.

About Cactus

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.